FormCap Corp (FRMC)

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FRMC If this doesn't motivate you, I don't know what will!

http://www.formcapcorp.com/index.php?option=com_content&view=article&id=50&Itemid=59

Weber City Prospect Summary
Curry County, New Mexico

FormCap Corporation is pleased to announce the formation of its Weber City Prospect. The Prospect is comprised of 5,800 acres of oil and gas leases, all with primary terms of 5 years. All leases were initiated in June of 2009 and all leases have been duly recorded in the State of New Mexico. The Weber City Prospect is located in Curry County, New Mexico which lies on the eastern most side of New Mexico bordering the state of Texas. Geologically, this Prospect in on the northern flank of the prolific Permian Basin and focuses on the Cisco Formation of Pennsylvanian Age. The initial well within the Prospect will be drilled to a total depth of 7,000’ to test four potential productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and finally, the primary objective, the Cisco Formation. The Prospect’s multiple secondary objectives are all oil and are primary producing zones in the Permain Basin of New Mexico and Texas. Based on modeling of a “look alike” existing producing field, the Anton Irish Field, well recoveries are expected to range from 100,000 to over 500,000 barrels of oil per well. With 40 acre spacing in this area, the project is estimated to produce over 220 million barrels of oil in a successful case. Project wells are anticipated to flow at initial rates averaging 300 barrels per day, free of formation water.

In order to better understand how the Prospect developed geologically, the following provides a brief description of the formation of the Pennsylvanian Reef reservoirs. The Cisco Formation is primarily marine limestone and shales, with the reservoir developed in limestone sequences. During deposition, the Pennsylvanian seas were relatively shallow and warm or tropical. At the same time in this area of the Permian Basin, an incipient basin margin started to develop. Associated with this development, structures evolved on the Pennsylvanian seafloor. Upon these structures, patch reefs began to grow. As the Pennsylvanian sea deepened, the reefs grew vertically in an attempt to stay close to the surface and most critically within the photic or sunlight zone. A major regression or withdrawal of the seas, ended reef deposition. But leaving the reefs exposed led to excellent porosity and permeability development. Several of these Pennsylvanian Reef reservoirs are giant oil traps, producing over a billion barrels of oil in the Permian Basin. The Weber City Prospect focuses on the same type of oil trap.







Detailed mapping, landsat imagery, seismic analysis and log evaluation outlines a major, combination stratigraphic, structural trap on the Prospect; the existing Anton Irish Field. Structural analysis of the Permian Basin over a 20 year period integrate with landsat analysis by a renowned structural geologist outlines a probable compression structure or “pop bloc”. South of the structure, Gulf Oil tested significant oil from the Cisco Formation. A shallow well drilled and completed in 1947 as a 1,600’ oil producer is located at the crest of the Weber City “pop bloc”. Finally, a well off of the northern flank of the Prospect, drilled into over 1,200’ of basinal shale and defines the northern limits. As in Anton Irish and Pennsylvanian Reef Fields in the Permian Basin (Kelly-Snyder), individual leases can produce over a million barrels of oil.